Globe Life (NYSE:GL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Globe Life (NYSE:GL) had its price target hoisted by research analysts at Wells Fargo & Company from $126.00 to $141.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 13.49% from the company’s current price.

Several other equities analysts also recently commented on GL. Piper Sandler upped their price target on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and upped their price target for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Truist Financial upped their price target on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Morgan Stanley upped their target price on shares of Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Finally, BMO Capital Markets started coverage on shares of Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price on the stock. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $135.50.

Globe Life Stock Up 0.2 %

Shares of NYSE GL opened at $124.24 on Wednesday. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 10.40 and a beta of 0.81. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The firm’s 50-day moving average price is $116.19 and its 200-day moving average price is $108.83. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, equities research analysts anticipate that Globe Life will post 13.86 EPS for the current fiscal year.

Insider Activity

In other news, CMO Jennifer Allison Haworth sold 9,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the transaction, the chief marketing officer now directly owns 13,485 shares in the company, valued at approximately $1,522,591.35. This trade represents a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the sale, the director now directly owns 5,122 shares of the company’s stock, valued at $579,964.06. The trade was a 36.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,678 shares of company stock worth $8,799,822. Corporate insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Waverly Advisors LLC lifted its position in Globe Life by 10.8% during the fourth quarter. Waverly Advisors LLC now owns 5,662 shares of the company’s stock valued at $631,000 after acquiring an additional 554 shares during the last quarter. Woodline Partners LP purchased a new stake in Globe Life during the fourth quarter valued at approximately $5,636,000. Virtus Fund Advisers LLC purchased a new stake in Globe Life during the fourth quarter valued at approximately $116,000. Virtus Investment Advisers Inc. purchased a new stake in Globe Life during the fourth quarter valued at approximately $1,358,000. Finally, WBI Investments LLC purchased a new position in shares of Globe Life in the fourth quarter worth $2,100,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

About Globe Life

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.